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Long Road to Chase Sapphire Reserve Approval

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Anonymous
Not applicable

Long Road to Chase Sapphire Reserve Approval

After much time and effort, I was finally approved for the Chase Sapphire Reserve! 10K Limit (Minimum).

 

As many of the people on the forums helped me, I thought I would recap the story.  Thanks for everyone’s help!

 

Application Stats:

 

Date of App: 12/4/16

Fico Bankcard 8 Score: 756 (note: this score format goes to 900)

Chase Internal RISK Score: 799 (note: this score format goes to 900)

Income: 85K

Current Cards (at application): 2 for 14.5K

Inquires in two years: 3 (one mortgage, one credit card, one other)

Baddies: One old paid charge off from Chase in 2011

Approved: 123/28/16 @ 10K

 

 

Story:

 

I applied in early December and got the 7-10 message. That was followed by a denial letter stating the reason for rejection as "previous derogatory relationship with Chase."  I then called for a Recon, and was denied again.  Apparently, my old Charge Off was never paid, even though it was listed as so on my credit reports in the past. The entire old Chase account was actually dropped from my credit reports prior to the application.  After a LOT of research, I had discovered that the fund transfer for that payment was rejected by my local bank due to fraud protection.  Unknown to me, my bank had changed the format of the checking account numbers, and they eventually declined the transfer AFTER they had already updated my credit report as paid. 

 

Long story short, my Bank resubmitted the transfer to Chase, and was confirmed. However, they then decided to re-update my credit reports with the new paid charge off status, even though the account was previously removed.  The account was re-posted to my credit reports, but reported as charged off every month for the past two years.  This information was incorrect!

 

Since my payment was now confirmed, I decided to call Recon again to look at my application.  This time, I was denied again, but for a different reason. "Too many credit or loan accounts have been opened recently," as per the letter.  However, the Recon agent had suggested that it was because I had not had an open credit card account with a minimum CL of 10K for at least a year.  I had only had one for 4 months.  At this point, I asked for a supervisor and requested the mailing address to the Chase Executive Office...

 

I wrote Chase a 2 page letter, stating the inaccuracies reported to the credit reporting agencies and asking that they reconsider my application at an escalated level.  I clearly stated my interactions with Chase over the last month, and explained why I was a good candidate for the card.  I included credit reports from the last 3 months that showed the 3 changes to my credit reports over that time span, and highlighted the inaccuracies.  I mailed the envelope of about 50 pages overnight to the EO.  They called me the next day and informed me that they had opened a case and were looking into it.

 

I called them back today, and not only had the realized that they made mistakes in the previous reconsiderations of my application, but also admitted to the inaccuracies on my credit reports!  They are sending me the card next week and told me they are updating my reports to reflect the proper reporting information.  While this certainly was a hassle, the Executive Office pulled through!  While jumping through all these hoops were quite annoying, it was likely due to the large scale of the company.  Once a person was able to see all my data and look through what had happened, they corrected their mistakes.  I’m glad it’s over.  My scores have been hampered for the time being, but lets hope thats fixed shortly. 

 

Thanks!

Message 1 of 15
14 REPLIES 14
Anonymous
Not applicable

Re: Long Road to Chase Sapphire Reserve Approval

that sounds like quite the ordeal, but shows that true persistence will pay off eventually!

 

I had to recon my Freedom Unlimited with them due to an old WAMU account chargeoff in 2008, which was eventually paid in full but apparently this means you will have to recon cold apps with Chase any time they've bought out a bank that you had a CO with in the past.

Message 2 of 15
Meanmchine
Super Contributor

Re: Long Road to Chase Sapphire Reserve Approval

First off, Congrats on getting back in with Chase.

 

I am a bit confused tho when it came to the relisting of the Chase account on your credit reports. Had your account "fully aged off" or was it earlly excluded?  If it had fully aged off ( the full 7+ years fromm date of first deliquency ) then I dont see how paying the account in full would change the date of first deliquency. A simple phone call to each CRA could have resulted in the removals.

>3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>5/2023 All 3 reports 840ish (F8) F9s = 850 but my app finger is still twitching
Message 3 of 15
Anonymous
Not applicable

Re: Long Road to Chase Sapphire Reserve Approval

Way to go! Love persistence. Never give up. Enjoy this one-you earned it. Smiley Happy
Message 4 of 15
Anonymous
Not applicable

Re: Long Road to Chase Sapphire Reserve Approval

@meanmchine

I'm not sure why it even was dropped from the reports in the first place. I thought it wasn't scheduled to drop off for another 10 months, But figured I might have been mistaken. Maybe there system got confused when the payment didn't initially go through? Maybe the new chase app promoted it to be added again? I always wondered if I had never filled out that app, if it would have ever shown back up.  

I saw it was removed, and took advantage of it and applied to a couple cards I would never get with that still on my report. I wondered if it would ever show back up.

I'm fine with them being on the report, as long as they report it properly! Glad I was able to take care of it now so I could get back in with chase.

Message 5 of 15
Meanmchine
Super Contributor

Re: Long Road to Chase Sapphire Reserve Approval

Glad it worked out for you !!

>3/2016 EX 644 CK-TU 642 CK-EQ 660 WalMart- 671.
>5/2023 All 3 reports 840ish (F8) F9s = 850 but my app finger is still twitching
Message 6 of 15
NYFan63
Established Contributor

Re: Long Road to Chase Sapphire Reserve Approval

Congrats Kraven...
Penfed Platinum Sig Visa $33k, PenFed PLOC $25k, NFCU Cash VISA Sig 22k, NFCU Visa Flagship 22k, CAP1 Venture $23k, CAP1 Venture One $15k, NFCU NAV Check $15k, Barclays Arrival $13,2k, DCU VISA 5k, Cap1 QS 7.5k, WF Finance 3.5k, Merrick 2.2k, Barclays Apple Financing 6.1k BestBuy 5k >Ch7 BK filed 8/09; DC 01/10 EQ 636 Nov 13;
EQ08 718 | TU 731 | EXP 728
Inqs: EQ 11, TU 8, EXP 11(last 2 yrs)
Goal 750+ In the Garden til

Message 7 of 15
UncleB
Credit Mentor

Re: Long Road to Chase Sapphire Reserve Approval

Huge congrats on an awesome approval!  screamer.gif

 

This is a fantastic example of how persistance can really pay off, and how even behemoth companies can be responsive if you can get to the right person.

 

Again, way to go!  Smiley Very Happy

Message 8 of 15
Anonymous
Not applicable

Re: Long Road to Chase Sapphire Reserve Approval

I


@UncleB wrote:

Huge congrats on an awesome approval!  screamer.gif

 

This is a fantastic example of how persistance can really pay off, and how even behemoth companies can be responsive if you can get to the right person.

 

Again, way to go!  Smiley Very Happy


I did ask them "why did i get two different reasons for denials on two different letters," and their response was along the lines of "we are always working on ways to better review applicants, our system doesnt always evaluate an individuals credit factors correctly".  

 

It would seem that Chase relies on computer evaluations, even during recon.  It took action by the EO to get a human to review any underwriting. 

Message 9 of 15
sjt
Senior Contributor

Re: Long Road to Chase Sapphire Reserve Approval

Congratulations!

 

I was wondering if you had any updates. 

 

Im glad everything worked out and that you got the CSR and corrected reporting of your old Chase account.

 

 

American Express: Platinum Charge, Optima, Business Gold, Delta Business Reserve, Business Cash, Business Plus
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) FICO as of 5.23, EX: 812 / EQ: 825 / TU: 815
Message 10 of 15
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